This fantastic two apartment multi family home is located in Hamilton Heights, St Louis and is just eight minutes and 2.4 miles from Washington University St Louis. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments are just being refurbished throughout to a Section 8 standard and the management company will place brand new tenants when the new owner closes on the property paying $600 – $650 each in rent per month.
Property Details
• Four bedrooms.
• Two bathrooms.
• 2,024 sqft built
• 3,987 soft lot.
• Fully managed.
• Local staff.
• Garden.
• Multi unit.
Investment Calculation
Purchase price: 64,900
Gross annual rental income: $15,600
Property running costs: $2,499
(Tax, insurance and management costs)
Net annual rental income: $13,101
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%
Break even in 4.76 Years